Century Enka is acquiring additional 2155400 equity shares of ABREL Century Energy, a Special Purpose Vehicle ('SPV') by way of right issue.
The said acquisition is required to maintain minimum twenty-six percentage (26%) of the equity shares of the Power Producer to qualify as a Captive User of the Power Producer as per theprovisions of the Electricity Act, 2003 read with Electricity Rules, 2005.
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